The Economy Is Growing. That Doesn't Mean Companies Are Hiring More.
Business Insider••business
Key Points:
- The US economy is experiencing strong growth driven by consumer spending and AI investment, but the job market remains sluggish, leading to what some call a "jobless boom."
- Large companies, especially in Big Tech, have made significant white-collar job cuts while increasing profits by using AI to boost productivity with fewer workers.
- Despite steady consumer spending, particularly on healthcare, there has been no income growth, and unemployment has risen to 4.6%, the highest since 2021.
- Job seekers face challenges such as ageism, intense competition, and AI-driven hiring processes, with many reporting long job searches and lower pay offers.
- Looking ahead to 2026, increased AI investment may further enhance productivity but could also
